YM
Yamkela M

1 reviews | Active since May 2018

30 Sept 2019, 11:19

FNB LIFE INSURANCE ***** ALERT!!!!!

I took a life insurance cover of R2,000,000.00 in July 2018, I was paying R151.54. The agreement with FNB was that the cover amount and the premium would increase by 5% annually. The cover increased by 5% to R2,100,000.00 in July 2019 however the premium increased by more than 5% to R171.80, in August the premium was R172.89 & now in September it is R173.98. I reported this matter on 2 July 2019 when I saw the updated premium amount on the FNB App. The Consultant I spoke to escalated the issue to IT, until today the premium hasn't been fixed. Whenever I call FNB I am told that another escalation will be done. No feedback has been received instead different amounts are deducted from the account and there is nothing I can do about it. The most unfortunate thing is that if I cancel the insurance policy I will loose out, FNB is de*****ing its customers.

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Replies (1)
FNB (First National Bank)
FNB (First National Bank)'s reply30 Sept 2019, 11:34
Official
Good Day 

Thank you for taking the time to bring this to our attention. We would like to apologize for any inconvenience caused.

A formal complaint has been logged on your behalf and referred to the relevant department who will provide you with feedback.

The reference number is   ***NF

Regards

Hello Peter Complaints Team 

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